The Battery Raw Materials market is expected to reach USD 84.40 Billion by 2026, according to a new report by Reports and Data. With growing sustainability trends, electric vehicles have been endeavouring a positive growth trend due to increasing demand for lithium-ion batteries. Lead-acid batteries were earlier used as a backup in electric vehicles but now are substituted with the former one associated with lower charging capabilities and legal controversies regarding the lead-acid batteries. The self-sustainability of battery raw materials is a crucial factor that is propelling the global market. The supplies of raw materials needed for manufacturing batteries such as manganese, natural graphite, and nickel are extremely concentrated in a few countries.
The most prevalent types of batteries available in the market are Lead-Acid, Lithium-ion (Li-ion), Nickel-Metal Hydride (Ni-MH), Nickel Cadmium (Ni-Cd), and others. Several Battery Raw Materials present different performance characteristics to the batteries, and they are chosen based on the type and application of the battery.
The market in the APAC region is expected to witness the highest CAGR of 8.5% during the forecast period. With the productive government schemes for electric vehicles adoption, the region is expected to grow the manufacturing of EV in the countries of Asia-Pacific, and thus, in turn, is anticipated to fuel the market for Battery Raw Materials in the automotive industry in the region. For example, the Indian government has signed USD 1,445 million for the phase two of FAME India (Faster Adoption and Manufacturing of Electric Vehicles in India) policy on 1 March 2019, to encourage the use of electric vehicles in the country. Moreover, accelerated industrialization in the region is adding to the product’s market growth.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1911
Key companies profiled in the report are:
- Toray Industries
- Umicore
- Asahi Kasei
- Mitsubishi Chemical
- Henan Yuguang
- Glencore
- Nyrstar
- Sumitomo Metal Mining
- Hitachi Chemical
- POSCO
- Johnson Matthey.
Further key findings from the report suggest
- The Battery Raw Materials Market is estimated to reach USD 84.40 Billion by 2026, at a CAGR of 8.3% during the forecast period.
- The Lead-acid product accounts for a larger share of 59.7% of the market in 2018.
- The metal material is anticipated to grow at the highest rate of 8.4% during the forecast period.
- The automotive application segment is anticipated to grow at the highest rate of 8.5% during the forecast period.
- The secondary battery type is anticipated to grow at a higher rate of 8.6% during the forecast period.
- North America region accounts for a share of 21.3% of the market in 2018.
- Various players are developing strategies to mark their presence in the industry.
- For example, GEM, a Chinese Battery Raw Materials producer, has acknowledged an MOU with ECOPRO (South Korea) on 4 January 2019, to supply 170tk of nickel-cobalt-aluminum oxide (NCA) over the next five years. The deal involves the supply of 16kt in 2019, expanding to 24kt in 2020 and 40kt in 2021.
Request a report customization @ https://www.reportsanddata.com/request-customization-form/1911
Segments covered in the report:
Product Outlook
- Lead-acid
- Lithium-ion
Material Outlook
- Metals
- Chemical
- Others
Application Outlook
- EVs
- Automotive Batteries
- Portable Devices
- Industrial
- Other
Battery Type Outlook
- Primary Battery
- Secondary Battery
Regional Outlook
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
Download Summary @ https://www.reportsanddata.com/download-summary-form/1911
Read Our More Reports
AI in Oil and Gas Market, Share Trends Analysis by Application (Quality Control, Production Planning, Predictive Maintenance, Thermal Detection, Others), by Operation (Upstream, Midstream, Downstream), by Region, Competitive Strategies and Segment Forecasts, 2016-2026
Oil Gas Processing Seals Market By Type (Single Seal and Double Seal), By Material (Metals, Elastomer, Seal Face Material, and Others), and By Application (Upstream, Midstream, and Downstream), 2016-2026
Transcritical CO2 Systems Market Analysis, By Function (Refrigeration, Heating, Air Conditioning) By Application (Retail, Heat Pumps, Transportation, Food Processing and Storage, Ice Skating) Forecasts to 2026
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Contact Us:
John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
